iSoft apologises

The iSoft Group has sent out a statement of apology to the health service and CSC concerning a comment made in a market update on 2 June 2010.

The company released the statement to the Australian Stock Exchange and made clear that its original comments were an "opinion" rather than "fact".

The original statement said the company revenues for this year were anticipated to decrease by up to £17.6 million because of political upheaval in the UK.

The most recent release said the company's original statement referred to "a deferral of decisions in relation to the National Programme for IT for our partner CSC being due to an uncertain political climate in the UK and ensuing election".

It continued: "In addition, further comments regarding government change were given as a reason for delays in NPfIT procurements in the South of England. Both these statements were iSoft's opinion and cannot be taken as fact."

The apology added that iSoft was completely behind the delivery of NPfIT with their partner, CSC, and said it was sorry for "any unintended criticism" of either the NHS or CSC.

The effect of the statement on the market was dramatic, with shares in the company falling by 30% to 39 Australian cents.